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George Shultz: Memo to Romney — Expand the Pie
Keywords:
Pollock's interview with Geroge Shultz, Reagan's senior economic advisor and Secretary of State, at his office in the Hoover Institution, Stanford University. He says the U.S. can find its way out of the current economic crisis the way it did during the early Reagan years. On the Fed's loose monetary policy he says the Bernanke Fed's contribution to the economic crisis was very easy money. Now that we have it we realize that its going to take something different from easy money to get the economy moving- not just more money. Three quarters of the debt issued by the U.S. in the last year was bought by the Fed, and the Fed is monetizing debt when it buys debt because at some time this ends up getting out into the economy. Shultz sees the tax rules as being about more than rates. Corporate tax rates should be lowered by cleaning up preferences. But what is most important is predictability and an environment where business feels there is less uncertainty when investing. Shultz says Romney should read his memo to Reagan before Reagan assumed office, excerpted in the WSJ, "Advice to a New President," May 26, 2012. He also recommends John Taylor's new book- "First Principles: Five Keys to Restoring America's Prosperity."
Interview with George Shultz, Reagan economic advisor and Secretary of State on the way out of the U.S. economic crisis
07/21/2011
The WSJ's Robert Pollock's interview with George Shultz. Advice on the Romney Plan.
Grouped Articles
New York Times 07/21/2011
George Shultz: Memo to Romney — Expand the Pie
Wall Street Journal 07/14/2012
Martin Feldstein: Romney's Tax Plan Can Raise Revenue
Wall Street Journal 08/28/2012
The Magnitude of the Mess We're In
Wall Street Journal 09/16/2012
The Romney Cure for Obama-Induced Economic Ills
Wall Street Journal 10/03/2012
Romney benefits from rigorous defense of tax plan - The Washington Post
Washington Post 10/06/2012
John Taylor and other experts on the U.S. budget, deficits, and private investment for jobs
01/27/2009
Taylor asks why the U.S. cannot get by on a budget that is 20% of GDP, when this is what the budget was in 2007 and GDP is much larger today. He says private investment can do a better job reducing unemployment and creating a growing U.S. economy. Taylor provides advice on the Romney Plan.
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Bhidé and Phelps: Central Banking Needs Rethinking
Wall Street Journal 07/16/2013
Obama's Permanent Spending Binge
Wall Street Journal 04/22/2011
Five Lessons for Deficit Busters
Wall Street Journal 06/20/2011
Wall Street Journal 06/27/2011
Charlie Rose Talks to Robert Rubin
BusinessWeek 08/04/2011
Washington Post 08/07/2011
John Taylor on U.S. Federal Reserve policies and booms and busts in the U.S. economy and no clear exit strategy
01/27/2009
Taylor points out that the dual mandate for maintaining unemployment and inflation goals has led to discretionary policies that have hurt the economy by leading to booms and busts. He calls for a single mandate on inflation goals. Taylor provides advice on the Romney Plan.
Grouped Articles
Martin Feldstein: The Federal Reserve's Policy Dead End
Wall Street Journal 05/09/2013
Once Again, the Fed Shies Away From the Exit Door
Wall Street Journal 07/11/2013
Bhidé and Phelps: Central Banking Needs Rethinking
Wall Street Journal 07/16/2013
Sluggish Economic Recovery Proves Resilient
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The Dangers of an Interventionist Fed
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S.&P. 500 Dips After Fed Signals No New Stimulus
New York Times 04/04/2012
The Reagan Memo of 1980 by Shultz, Friedman and other advisors on prudent economic policies for growth
01/04/2010
George Shultz, Milton Friedman, Paul McCracken and other economic advisors jointly sent this memo to U.S. president Ronald Reagan before his first inauguration. The memo provides advice on economic policies and methods at a critical time of soaring inflation and a stagnant economy, with economic difficulties matching what the U.S. economy faces today from the housing bubble and slow growth. Advice on the Romney Plan.
Grouped Articles
New York Times 07/21/2011
Wall Street Journal 05/26/2012
Wall Street Journal 05/26/2012
Gramm and Hubbard: What a Romney Recovery Might Look Like
Wall Street Journal 06/06/2012
George Shultz: Memo to Romney — Expand the Pie
Wall Street Journal 07/14/2012
Uncertainty and the Slow Recovery
Wall Street Journal 01/04/2010
John Taylor on U.S. leadership for the world economy
11/01/2011
Grouped Articles
A Slow-Growth America Can't Lead the World
Wall Street Journal 11/01/2011
Greenspan image tarnished by newly released documents - The Washington Post
Washington Post 01/13/2012
Wall Street Journal 01/25/2012
Wall Street Journal 02/11/2012
Wall Street Journal 05/26/2012
Wall Street Journal 05/26/2012
George Shultz on the path to U.S. economic growth
07/14/2012
Linked Articles
The Magnitude of the Mess We're In
Wall Street Journal 09/16/2012
George Shultz: Memo to Romney — Expand the Pie
Wall Street Journal 07/14/2012
Reviving the U.S. economy with reduced uncertainty and private investment (2)
12/10/2011
Linked Articles
George Shultz: Memo to Romney — Expand the Pie
Wall Street Journal 07/14/2012
The Next First (and Only) 100 Days
New York Times 12/10/2011
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